Type of Subject:Bachelor
Lecturer: dr. Sándor Bozsik
Suggested Semester: Semester 1. / Preliminary learning conditions: None
No. of Lessons: 2-2 / Recitation: kollokvium
Credit: 5 / Type of Course: compulsory
Brief description of the subject:
The main learning objective of this subject is to give a broad overview on the financial phenomena of the whole economy and especially its financial sector. The subject describes the operation of the financial markets, the circulation of money in the economy, the working of fiscal and monetary policy. The students will be able to understand the main financial process of the economy, and to calculate the yield and price of the main investments.
Summary of lectures:
Weeks / Lectures / Seminars
1 / Money history, bank history / Present value, future value calculations
2 / European monetary system / Examples on future and present value calculation
3 / Current money system / Simply interest, compound interest, mixes interest, German, French, English way of interest calculation
4 / Functions, types and institutions of financial markets / Annuity, Present value and future value of annuity
5 / Types of securities / Mathematics of bill of exchange
6 / Main characteristics of securities (bill of exchange, bonds, shares) / Mathematics of bonds and shares
7 / Stock exchanges, products and deals / Perpetuities, IRR calculations
8 / Financial intermediaries, insurance companies, pension funds / Exam 1. Personal income tax
9 / Main elements of fiscal policy / VAT calculation
10 / Consumption and property taxes (VAT, excise tax, car tax, local taxes) / Corporate Tax calculation
11 / Taxes on corporate income (Corporate Tax, Small Enterprise Tax, Lump sum Tax of Small enterprises, Innovation Fee, Rehabilitation Fee) / Payroll taxes
12 / Taxes on employment (Personal tax, Social contribution fee, pension fee, health care fee) / Corporate Taxes of SME’s
13 / Monetary policy / Exam 2.
14 / Exchange rates, International balance of payment / Supplementary exam
Method of Mid-Semester Task:
Conditions of signature – attendance at least 70% of total seminars and lectures
40 scores from two seminar exams; 20 scores from country reports; 40 scores from oral exam in the examination period; Extra points from lecture and seminar activity.
Evaluation of the Subject:
Total scores: 100 0-50 unsatisfied; 51-62 satisfied; 63-74 average; 75-86 good; 87-100 excellent
Obligatory Literatures:
- Rose Peter: Money and Capital Markets Business Publication, Inc 1986
- Madura Jeff: Financial markets and institutions South Western Cengage Learning 2012 ISBN: 9780538482165
- Anderson John: Public Finance South Western Cengage Learning 2006 ISBN: 9380538478441
- Levi Maurice: International Finance Routledge 2009
- Rose Peter – Hudgins Sylvia: Bank Management & Financial Services McGraw-Hill 2012 ISBN: 9780078034671
- Kohn Meir: Financial institutions and markets Oxford University Press 2004 ISBN: 978-0195134728